Eutelsat completes sale of Hispasat shares after Spanish government consent

by | Apr 19, 2018 | Finance, Seradata News

Eutelsat, one of the “Big Four” global FSS operators, has received approval from the Spanish government for the sale of its 33.69 per cent shareholding in fellow European FSS operator Hispasat for EUR€302m (US$372.5m).

The sale has been a lengthy process. Eutelsat had made the decision to sell its minority holding in the company in 2016, and eventually in May 2017 reached an understanding with Hispasat’s majority shareholder, Abertis Infraestructuras – a Spanish infrastructure and telecommunications conglomerate – for the sale and immediate purchase of its shareholding. Due to its interest in the company, the Spanish Government had the final say on any share purchase, and it only recently approved the sale.

The deal increases the Abertis shareholding in Hispasat from 57.05 per cent to 89.68 per cent. One of the minority shareholders, the CDTI (Centre for Technological and Industrial Development), a government-owned investment body, was also part of the deal and has seen its shareholding increase from 1.85 per cent to 2.91 per cent. The third remaining shareholder, the SEPI (State-Owned Industrial Holding Corporation) has maintained its 7.41 per cent stake. 

 

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